This course emphasizes the learning of basic auditing concepts such as risk, control, evidence, and objectivity and important relationships among these concepts. Understanding the conceptual framework underlying financial statement audits is an important learning objective for this course. Students are expected to become knowledgeable about procedures commonly used to test controls and to audit transactions and account balances. Effective auditing requires an investigative mentality and developing students' professional skepticism is an important learning objective for the course.